Awqaf & Minors Affairs Foundation specializes in and is competent with the affairs of legal superintendence on endowments, their care, investment, their funds management and payment of their revenues within the limits of endower's conditions in a way that fulfills the legal/shar'i intentions thereof. Also, it considers, within the limits of this law and in accordance with the provisions of the Islamic Law (Shari'ah), all actions necessary for protecting the minors' funds, those mentally handicapped and incompetent, the lost, the absentees and also caring of their affairs.
Endowment Development:- We seek the development and promotion of our endowments through:
- Urge and encourage the community on welfare acts, facilitate the individuals' participation in the current alms or ongoing charities (endowment), and calling for the revival and enhancement of this very good practice (rubric).
- Efficiency of the management and investment of endowment funds, through:
1. Establishing new successful economic enterprises, and promote them in accordance with the provisions of the Islamic Law (Shar'iah). 2. Leasing endowments' facilities subject to well-studied policies. 3. Quality of services rendered to our clients from all community segments.
- Carrying out the endowers' conditions subject to apparent maturity criteria, with the aim to reach that kind of tangible community development in fact.
Type of Endowments:-
National Endowment:- This is what benefit is made to those relatives of the endower or onto certain specific individuals, and is called also ancestral endowment.
Charitable Endowment:- This is what benefit is made to one or more parties of charity and good doing which is made preliminary onto one of the views of charity such as the poor and the mosques.
Joint Endowment:- This is what matches the charitable and the national endowments.
All revenues out of these endowments are hence assigned for the duly approved endowment disbursements (Way-Outs) which cover all social aspects in the community; hence, the endower shall have the right of free option in any disbursement source (Way-Out) to receive revenues thereof.